Government Launches Rs 750 Crore 'AgriSure' Fund To Support Agritech Startups
Chouhan noted that agriculture is the backbone of the Indian economy and the sector contributes around 18% to the GDP.
The Central government on Tuesday launched a Rs 750 crore 'AgriSure' fund to boost financial support for agritech startups. The fund was announced by Union Agriculture Minister Shivraj Singh Chouhan at an event unveiling the integrated Agri Investment Portal, Krishi Nivesh, and the 'AgriSure' fund.
The Rs 750 crore 'AgriSure' (Agri Fund for Startups & Rural Enterprises) will support startups and 'agripreneurs' by providing both equity and debt capital.
Chouhan emphasised the need for increased public and private investments in the farm sector and stressed the critical role agritech startups and 'agripreneurs' play in transforming agriculture.
Earlier on Monday, the Union Cabinet approved seven schemes for the agriculture sector with an outlay of nearly Rs 14,000 crore.
Chouhan urged startups to take full advantage of the fund, assuring that financial constraints would not hinder their growth. He reiterated the importance of both government and private investments in agriculture to enhance production and value addition.
The minister also highlighted the government's Rs 1 lakh crore Agriculture Infrastructure Fund, aimed at building farm-related infrastructure in rural India. Agriculture, which contributes around 18% to India's GDP, is the backbone of the economy, Chouhan said, noting that farmers are also significant consumers within the economy.
Chouhan further outlined the Centre's efforts to boost farmers' income, ensure food and nutritional security, and promote crop diversification through modern technology. He underscored the need for innovative farming approaches, including small farmers collaborating to farm on a larger scale.
Addressing concerns over excessive use of chemical pesticides and fertilisers, Chouhan stressed the importance of protecting soil health. He also praised the Krishi Nivesh Portal as a game-changer, centralising investment opportunities and information to support agribusinesses and improve farmers' incomes.
(With inputs from PTI)
